The Financial Times quotes Robert Kyncl, YouTube's head of content and business operations as saying, "While we wish that we had 100 per cent success rate, we understand that is not likely an achievable goal" and the videos will be blocked "in a matter of days." (Via Flickr / Neil Hunt)

In the article, Kyncl places record labels like XL Recordings with just five percent of the music industry who have refused to sign up to YouTube's new licensing terms but the independent labels place that number much higher.

The Worldwide Independent Network or WIN says that independent labels make up more than 30% of the music industry and in a press release, WIN called the terms offered by YouTube "highly unfavourable, and non-negotiable."

WIN has even filed a complaint with the European Commission saying YouTube "bullies" indie labels during licensing negotiations. (Via BBC)

And while YouTube may take a hit if they block certain Indie label artists, it's not as simple as everything-Adele being wiped clean from the site.

According to TechCrunch, Vevo which hosts hundreds of the world's most popular music videos, does have a deal with YouTube. So videos like "Rolling in the Deep" which sits at 509 million views will be able to stay.

YouTube, which boasts 1 billion monthly visitors, has not announced a date or many details for its paid subscription service but reports say it will hit the web before September.

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